My parents never gave me an inheritance. They weren ’ thyroxine in the habit of handing out money merely because they had it. rather, they gave me two invaluable principles for both life and business that have helped me make more money than they ever could have given me on their own :
- Be cautious of popular advice; and
- Be humble enough to recognize and accept what you don’t know and pay to get the proper, quality advice that you need.
unfortunately, the people who have signed up for Stripe Atlas were probably never taught these lessons. When Stripe Atlas came out in early on 2016, it was the cool kid on the block .
Everyone wanted to try it out. N26
It was the newest bright object on the ceaseless list of popular offshore solutions that are habitually paraded about as the panacea for your every need, joining the ranks of programs like estonian e-residency and e-companies, american samoa well as bank with FinTechs like Revolut and N26 .
As Stripe Atlas rolled out its services, I could already hear the folks waiting in line to sign up, eagerly singing along with Echosmith :
I wish that I could be like the cool kids
‘ Cause all the cool kids, they seem to fit in
I wish that I could be like the cool kids
Like the cool kids
Having been raised by a financially literate founder who taught me the power of humility and paying for good advice, it has taken me a long time to realize merely how rare his advice in truth was and how few people follow it .
As a leave, I was never identical popular. I was not one of the cool kids .
I have not followed the trends. What have I done rather ? I ’ ve run five profitable companies and built a reasonably hearty seven-figure net worth .
indeed, here ’ s my advice to you : If you have been considering Stripe Atlas for your business, reconsider .
In my years of personally helping hundreds of people with their offshore businesses, taxes, and investments ( and wading through applications from over 100,000 folks seeking to work with me ), I have found that there are certain types of people who good can ’ t be helped .
The ones who think they ’ re smart ( i, cool ) than everyone else will constantly suffer because they “ don ’ metric ton need your assistant. ”
They ’ re the cool kids with their trendy blanket solutions… like Stripe Atlas .
Like all things that the cool kids chute into, people have been throwing caution to the tip when it comes to Stripe Atlas. “ This is what we should do ! ” they say. But they don ’ t know why. And they don ’ deoxythymidine monophosphate factor in the consequences of such a decision. That ’ s when I start singing the words of Echosmith ’ mho song :
He sees them talking with a big smile
But they haven ’ thymine got a clue
Yeah, they ’ re living the good liveliness
Can ’ t see what he is going through
They ’ re driving fast cars
But they don ’ triiodothyronine know where they ’ re going
In the fast lane, living life without knowing
I don ’ metric ton want to be like the cool kids. I want to know where I ’ thousand going. I imagine you do excessively. That ’ s why I ’ ve written this article to shed some light on why Stripe Atlas is a badly mind for on-line businesses .
What is Stripe Atlas?
In typical Silicon Valley fashion, Stripe Atlas is nothing new. alternatively, the folks in Silicon Valley have taken something that everyone else has been doing for years and they ’ ve hyped it up as something revolutionary .
Apple is the perfect example of this commit. Apple did not invent the tablet ; Apple did not fabricate streaming music to your telephone. even Steve Jobs admitted in the documentary “ Triumph of the Nerds ” that Apple “ has always been shameless about stealing great ideas. ” Apple has never truly invent anything ; they have merely improved what already exists .
Stripe Atlas has done the same thing for merchant accounts and distant company formation .
It ’ randomness nothing revolutionary. They have merely made it possible for anyone to set up a Delaware C Corporation and get a bank bill and merchant account. Every Tom, Dick and Harry has a avail to do that for mere hundreds of dollars !
What makes Stripe Atlas different is that they have made it potential for anyone to do this remotely .
here at Nomad Capitalist, we help people do this all the time. We help US citizens remotely set up US bank accounts for personal and business use. We can even help nonresident aliens do the lapp. It is a bit more imply, but it is possible. And we help people set up merchant accounts around the world, excessively .
We do this every day .
so, no, Stripe Atlas is not a revolutionist newly serve. They have taken their requital action capabilities, tagged on a trust account at Silicon Valley Bank where you don ’ t have to show up to get the score, and then thrown in a Delaware C Corporation to round out the softwood .
In their original press unblock announcing their services on February 24, 2016, Stripe claimed that Atlas would grant entrepreneurs worldwide entree to all the essential services they needed to start a ball-shaped internet business in barely a few clicks .
thus comfortable !
The timeline to set up a US clientele entity and reach access to the robust banking infrastructure of the United States would be reduced from months to days, and all for a fraction of the price .
They would even offer up other basic services, including educational material and tax advice from PwC, legal guidance from Orrick, Herrington & Sutcliffe, and tools from Amazon Web Services .
And to top it all off, incorporating in Delaware would allow companies to issue stock to employees and raise capital from ball-shaped investors .
This all sounds amazing, which is why so many people are jumping on the Stripe Atlas bandwagon. And, if truth be told, it does seem to solve some legitimate problems for people outside of the United States .
Opening a merchant account for an offshore company can be unvoiced. on-line or offline, if you run a business that requires you to process your customers ’ credit cards, you need a merchant report. They help with paying taxes and can streamline much of your occupation operations .
But merchant accounts for offshore companies are unmanageable to come by .
The United States, on the other hand, is the easiest place on earth to open a merchant account. Before becoming an international entrepreneur and investor, I started several businesses in the US and, like most people, I got spoiled with merchant accounts .
When I started an in-person base services business, we set up Square, put it on the employees ’ phones, and they collected money. It was easily because amounts were low, swiping was in-person and low gamble, and we were in the US and paying taxes .
While it has its shortcomings, the US does make it easy to get a merchant account and set up a company. It besides makes it easy to get an explanation with a bank, or a company like Stripe, Square, etc .
But it has never been very easy for non-US persons to do either, whether they wanted a merchant report in the US or somewhere else .
Offshore Merchant Account Alternatives
For a long time, the easiest merchant report choice for approval was PayPal. however, PayPal is different offshore ; it ’ randomness more of a pain. Plus, fees are a moment higher ( although I normally don ’ metric ton care about that since I ’ megabyte saving tax ) .
Hong Kong PayPal, for exemplar, charges high fees to transfer HKD to USD and frailty versa. It besides functions like a watered-down translation of a electrify transfer in that fund to your bank international relations and security network ’ t american samoa contiguous as in the US .
As my acquaintance Corey Coates told me years ago, PayPal in countries like Costa Rica sternly limits your monthly withdrawals, sometimes to arsenic fiddling as $ 1K a month .
unfortunately, you don ’ t have many early trust options. One choice is to pursue bad merchant accounts that require a big deal of paperwork and higher fees. Your other choice is to incorporate in a “ first global ” legal power, though it ’ s likely you will be subject to higher taxes .
That is why, when Stripe came along, it seemed to be the great equalizer .
When Stripe inaugural came out, I wrote about how I was not a huge fan but that it might work alright for you if you sold e-books or possibly if you did consulting .
once Stripe is supported in your country, you can accept payments from customers anywhere in the world. As of this write, Stripe is available in 34 countries, including international commercial enterprise centers like Hong Kong and Singapore and most english speak countries like Australia, Canada, New Zealand, Ireland, the UK and the United States .
Atlas is besides available in the majority of european countries, including Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland .
Japan and Malaysia are besides included on the list. additionally, you can request an invite if you are incorporated in Brazil, India, or Mexico .
The bad news is that most of the countries on this list have quite high taxes. If you have an office and an employee in Ireland, then you ’ ll only be taxed at 12.5 % ; otherwise it ’ s 25 %. Beyond Ireland, the UK ’ s 20 % tax is the lowest .
overall, what Stripe has done with Stripe Atlas international relations and security network ’ thyroxine precisely revolutionist. Forming a Delaware corporation international relations and security network ’ t that arduous to begin with if you are there physically, Stripe precisely makes it easier to do it remotely and brings everything under one roof .
This international relations and security network ’ deoxythymidine monophosphate that big of a bonus seeing as I could do the accountancy for my Delaware corporation in less than an hour each year. In my opinion, the real measure suggestion of Stripe Atlas is for non-US citizens who want to start US companies .
however, having a US ship’s company may be the worst thing a non-US citizen could do for their business. In some cases, it might be an all right thing to do, but let ’ s search at why most people will want to avoid setting up a US occupation and, subsequently, avoid Stripe Atlas ’ sulfur services .
7 Reasons You Should Avoid Using Stripe Atlas
The overarching return with setting up a US business and getting a Stripe Atlas account is that you are getting yourself into one of the most complicate tax systems in the world. here are the chief problems with Stripe Atlas, most of which root from complications rooted in the US tax system :
1. You Must Pay US Corporate Taxes
The number one thing I see wrong with Stripe Atlas and forming a US clientele entity is that you must pay US corporate taxes. From a tax perspective, if you are setting up a C Corporation, you are setting up a company that is tax nonmigratory in the US no topic what it does .
Since Stripe Atlas came out, the Tax Cuts and Jobs Act ( TCJA ) of 2017 that was passed under the Trump administration lowered the corporate tax rate from 35 % to 21 %. While that was a huge snub, corporate taxes are still 21 % .
now, there are unlike ways you can finagle that rate, but let ’ s take a conjectural situation to see how this would pan out for your business. Let ’ s play it relatively dependable and assume you are a belittled entrepreneur who will not have a complicate tax return. You are incorporating income that runs through your u company at the tax rate of 21 % .
If you are nonresident extraterrestrial being, you can take your dividends out of that company free of tax, but dividends can merely be taken out after you pay corporate tax .
You must pay corporate tax. There ’ randomness no way around it .
And, if you live in a country that does not have a tax treaty with the US, you could face double tax income and a 30 % withholding tax on all payments you send outside of the US unless you send it to a US person .
People tend to forget about the tax burdens when they get into this stuff. They precisely assume that there is no tax and that they can frolic through the US legal and banking universe without having to pay for the privilege .
But this plainly international relations and security network ’ t the case .
You will pay .
2. Filing and Reporting Burden:
even if you find a way around paying the wax 21 % corporate tax, the other write out you must consider when you decide to enter the US tax system is the charge and coverage burden .
You may not think that this is a very adult downside but go ask any US person or former US citizen who has renounced citizenship, like myself, and you will begin to understand the weight of this particular load .
Imagine, I had one of the best passports in the world as a locomotion document and I gave it up. I had wanted to renounce for a long fourth dimension for more reasons than taxes, but one of the nicest perks of no longer being a US citizen is that I don ’ t have to deal with the US tax system anymore, or at least I do on a very peripheral footing .
sol, why would person who is a nonresident voluntarily choose to be sucked into this system ?
normally, it is because they don ’ deoxythymidine monophosphate understand what they ’ rhenium getting into. They see the cool kids signing up for Stripe Atlas and see that the service might meet their merchant account needs, and then they lose 21 % of their commercial enterprise profits to a nation that they ’ ve never set infantry in !
People don ’ deoxythymidine monophosphate understand C corporation v LLC, they don ’ thymine understand the file burdens, they don ’ triiodothyronine realize that they will have to determine their ETBUS status and charge shape 1120 for their pot .
They have no idea that they will need to collect W-8 and W-8BENs for every person and party that they pay outside of the US and a different form for every person they pay within the US .
And they are blissfully unaware that the US applies staggering penalties for non-compliance with all these file regulations .
3. Your Business Must be Stripe Friendly
Another important motion to ask yourself before you mindlessly run after the Stripe Atlas bandwagon is, can your business be accepted ?
Stripe Atlas does not accept all types of businesses. Your business must be Stripe friendly. My commercial enterprise is not. The minimum order around hera is $ 10,000 and we provide services that are highly controversial .
I know, helping people reduce their tax bill is truly controversial .
But can your commercial enterprise be accepted ? Quite honestly, if you are just trying to set up a caller to do some business, you probably qualify. But why would you want to go through a wholly approval process merely to get into such a complicated tax system ?
I get why there is an approval march, we vet people who we work with because we only want to work with people we can actually help and that we are a measure to. I am not here to criticize that, but seeing that there is nothing revolutionary here, I don ’ metric ton actually see the point .
4. KYC for Silicon Valley Bank
There have been concerns in the by about the Know-Your-Customer ( KYC ) requirements for Silicon Valley Bank. In the US, an individual must physically appear before a banker in a branch function to set up many trust services, including accounts and international transfers .
not only is this difficult to do with remote account first step, but many clients from emerging market countries who are attracted by what Stripe Atlas offers do not have access to the character of information US banks need in order to do a credit check .
While there is a gamble that Stripe is in violation of Know-Your-Customer laws, Stripe does not seem to care, and no one has given them any issue over it since they ’ ve been in operation .
While this topic seems to be fine, everything we do here at Nomad Capitalist has to be clearly and 100 % legal and it is is not clear whether Stripe Atlas is in submission with KYC .
5. Litigation Risk
Most foreigners do not understand just how litigious people are in the United States. If you are in the US, you are basically screwed. Lawsuits are far-flung and you can be sued for anything and everything.
Read more: The Power of Putting People First
even if you are not a US citizen, you can be sued in the US court system if you own a US legal entity .
Getting sued is the fastest way to kill a inauguration and you are opening your clientele up to that risk the consequence you sign up for Stripe Atlas .
This is particularly true with a Delaware C Corporation because, unlike other business-friendly states that will protect the actors of a company ( except when negligence and fraud are involved ), Delaware does not protect the founders, officers, directors, and employees of a company from being sued by investors for any number of grievances .
6. Stripe’s Risky Advice
The challenge of Stripe is that their $ 500 service provides basic connection to “ tax advisors ”, but that price would never cover even an hour of personal clock time with the Big Four report firm they partnered with, PwC .
That means that it ’ s potential that entrepreneurs will set up companies that are ill structured and may end up incurring US tax obligations .
I ’ thousand surely Stripe has taken some of this into report, but taxes aren ’ thyroxine something that you can give blanket advice on. Every business is different, and when thousands or even millions of dollars are on the line, the latest piece of software international relations and security network ’ deoxythymidine monophosphate good adequate for me .
This is particularly true when you consider the bad advice Stripe is openly handing out on its web site. At one point, they were even suggesting you could connect your Stripe explanation to your personal account if you wanted to. I am not a lawyer, but I have run adequate businesses and have hired enough lawyers to know what piercing the bodied vail potentially looks like and this is it .
This is atrocious advice .
I ’ meter not quick to sign up for, or even recommend, a party that does not give proper advice at all times on all things legal, both in regards to taxes a well as how to structure your company and your respective bank accounts .
When it comes to business and anything relate to offshore, exemption is found in following the jurisprudence 100 % of the time. You need good advice and master support and that is not something you are going to get for a $ 500 all-in-one deal you bought off the internet .
7. Transfer Pricing Rules
transfer price is a building complex tax law, flush before you involve offshore business entities and bank accounts. It encompasses all methods for pricing transactions between and within companies under common control and possession .
When you set up an account with Stripe Atlas and then use your Delaware C Corporation to send money to your caller in the country of Georgia, for case, you must be highly careful with how you send that money .
You need a quality, certified accountant who in full understands both international clientele and transfer price who can create a set of transfer protocols that you will follow each and every time you trade “ within weapon ’ randomness length ” or you can get yourself in a lot of worry .
This is the kind of advice that you need to invest in .
unfortunately, the kind of people who hop on the Stripe Atlas bandwagon are normally unaware of the fact that they need this floor of intricate, expensive advice in order to successfully ( and legally ) do what they hope to do .
Most early-stage companies who want to protect their bottom line won ’ t want to spend that kind of money on such precautions. The best way to prevent expenses like this is to avoid the complicate situations that create them ( like Stripe Atlas and the US tax system ) in the beginning plaza .
Is Stripe Atlas Ever the Answer?
With all these downsides, you may be wondering why Stripe Atlas tied exists. Does it benefit anyone ? In reality, some tax advisers would say that you should set up a US LLC .
It all depends on who you are .
If you are a nonresident alien, that may be adequate advice, but that advice does not apply to every nonresident stranger .
I recently discussed my public opinion that remote control bank account opening is largely dead. so, if you are a nonresident foreigner, the biggest ( and possibly only ) fringe benefit to Stripe Atlas is that you can open a US bank account without going there .
If you are a US citizen, you can remotely open a US bank history without much of a problem. For US citizens, US banks are not very the issue .
But if you are a nonresident estrange, it becomes more difficult. Being able to open an account with Stripe Atlas means you don ’ t have to be stuck with an offshore bank in some flyspeck island .
But if you ’ rhenium volition to get on a plane and locomotion to the US, you can set up any number of accounts without needing to incorporate your business in the US and incur all of the tax obligations we discussed above that come with owning a US clientele entity .
You don ’ t need Stripe Atlas to do that .
so, what is Stripe Atlas truly offering you ? Remote setup. And, for some folks, this will make their taxes better, but then they will have other obligations, including things like ETBUS, filing all necessary forms, and paying corporate taxes .
If you are a US citizen life in the US, you don ’ t need Stripe Atlas. You can merely set up a local LLC or C Corporation in the department of state where you live and get a local trust account .
Stripe Atlas ’ s services are designed for nonresidents and, more specifically, nonresident aliens. US citizens are always tax residents, so even when they are nonresident, they will not face the like issues as nonresident aliens .
I lived abroad for years as a US citizen and I was even able to do things like set up merchant accounts. It is getting harder now because they want to do a site inflict, but it is still possible to do remote setup with many different banks in the US as a citizen or permanent nonmigratory .
Stripe Atlas is for everyone else who thinks they need a US business and bank .
now, obviously I am being excessively simplistic here. This is the type of tax advice you get in a web log. But therein lies the point : you are getting yourself into one of the most complicated tax systems in the world and no matter how many blogs you read about this stuff, you ’ re never going to know how to set up your international occupation and trust structures on your own .
Only for Silicon Valley Startups
When you consider every business entity option available on a ball-shaped level, it is obvious that a Delaware C Corporation combined with California bank – i, Stripe Atlas – is made for one type of company only : Silicon Valley startups .
California bank paired with a Delaware C Corporation is only an attractive offer for founders of startups who want to raise VC fund. Through Stripe Atlas, many foreign-based and non-US founders are being sold the dream of getting US fund .
But for many, it is just a pipe dream .
Promises of being able to transfer your shares to investors through an on-line platform may be fulfilled, but not before you lose all the tax advantages of being offshore .
The people who struggle the most to get results in the offshore area are those who are trying to raise money from investors .
Because they can not resist the urge to physically be in the US, so they end up spending besides much clock time there and screwing up their tax benefits and savings .
And they can ’ thymine defy taking on excessively many US investors and engaging in US trade or business .
They can ’ thyroxine check themselves from getting swallowed up in the startup culture in the US. They are therefore addicted. It ’ s like their cocaine .
But, listen, I help those people. If that is you, I can help you get it sorted out. Whether you are a US citizen or not, we can help you keep more of that inauguration money .
But if you crave that inauguration money and aren ’ deoxythymidine monophosphate willing to work to stave the addiction, then Stripe may be good for you. There is nothing revolutionary about it and most Silicon Valley startups aren ’ triiodothyronine going to get the support they need, but if you ’ re set on the mind, Stripe Atlas if for you .
But flush if that is you, you don ’ t need it. certain, the price chase is a bare $ 500, but to me, the sweet of gloomy prices is forgotten long after the resentment of bad serve remains .
If I am starting a company that I plan to sell for $ 50 million, or $ 100 or $ 200 million or a billion dollars, am I setting that up for 500 bucks ? No .
There Is More Than One Angle
The bottom line is this : if you are running any kind of normal business – whether it is a call center or an e-commerce store – Stripe Atlas ’ s services will probable not be helpful to you .
It ’ s the absolute wrong structure .
You do not want what I call a naked LLC. If you are a nonresident extraterrestrial being who lone has a US LLC and you believe that there is no tax burden, you might be unpleasantly surprised when you discover that how you are running your business makes it so that you do need to pay taxes .
Stripe Atlas international relations and security network ’ deoxythymidine monophosphate enough. You need a proper legal structure .
But on top of that, what are you going to do when you are sued ? Where is your asset protection ? Where can you move your money ?
There is more than one slant to this beyond getting a US party. Just because something works for taxes does not meant that it works for litigation, or for asset auspices, or for functional reasons .
The same goes for bank. If you are doing clientele globally, US banks may not be your best bet .
again, Stripe Atlas is great for Silicon Valley startups and no one else. The dear news for the rest of us is that there are better solutions .
Pay for Better Choices
The challenge I have with services like Stripe Atlas is that it encourages entrepreneurs to chase the latest “ bright object ” being promoted in a brassy way .
In my opinion, entrepreneurs shouldn ’ thymine be saying, “ What ’ s the coolest way to get a US company set up ? ” Rather, they should be taking a pace back and asking, “ What is the best jurisdiction for my caller ? ”
The United States is not the only legal power companies like Amazon will accept. For US citizens, a united states structure can make sense when set up by rights, but for non-US citizens, I frequently recommend other jurisdictions in Europe or Asia .
For most of the global entrepreneur I ’ ve spoken to over the years, it ’ s possible for even the most rigorous of companies like Amazon to pay them in more friendly locales .
Far besides many entrepreneurs hop on the “ me besides ” bandwagon and adopt the same corporate strategies their friends do. Or, flush worse, read far besides many web log posts offering conflicting information before making a decision .
If you ’ re a localization autonomous entrepreneur setting up a party — whether it ’ s in the US or offshore — you probably need some avail deciding what kind of structure to create .
Assuming that Stripe picked the best place for your ship’s company is silly ; they picked a station that would have lots of need .
Stripe Atlas is far less revolutionary for corporate setups than Stripe itself is for merchant accounts. Stripe made merchant processing stupidly easy, not to mention relatively cheap, for anyone starting up a business of any size .
personally, I don ’ thymine like Stripe ’ s increasing bureaucracy, but I do respect their invention. When it comes to setting up a company for a location independent business, however, you need professional advice, not the latest splashy software offering for incorporation .
You have better options .
But, as I learned from my parents, the kind of advice you need – timbre, personalized advice – is the kind of advice that comes with a price. not the $ 500 package that Stripe offers for your company formation, deposit and merchant history frame-up, legal advice and business help all bundled in concert .
You need real advice .
We get people asking for free advice all the meter here on the blog, on our YouTube channel, and everywhere they can find us about their specific questions .
But I don ’ deoxythymidine monophosphate answer questions for dislodge, not lone because I have spent tens of thousands of dollars sorting every aspect of my own tax plan on a US and ball-shaped horizontal surface over the years but besides because the professionals I work with to help hundreds of other people do the same do not work for free either .
If you are going to ask a complicate interview, you are going to have a complicate requital .
cipher is doing US tax for bum. The cool kids – the youthful trendy bros – think that they can find a room around it and get good advice on the cheap, but the reality is that anyone who knows US tax on a ball-shaped degree is not working for bum .
If you are a US citizen, US resident, or you do commercial enterprise in the United States or through a US caller, you need US tax advice .
If anything you do is on an international level, 98 % of US tax advisors will not know how to help you. I had a high-level tax adviser when I lived in the US and they sucked for international tax laws. They did not understand the most basic of concepts .
Stripe Atlas is not going to provide the right service for you for $ 500 when 98 % of US tax advisers can not do it for you for $ 275 an hour. Stripe Atlas is like a mirage that convinces you that doing business on an international flat is easy and cheap .
I recently talked to a guy who is worth $ 50 million. We are doing some pretty complicated tax and citizenship and investing work for him and it ’ s costing him about $ 170,000 dollars .
That is far more expensive than most people I work with, but this person ’ s occupation was complicated, and they wanted to spend time in the US and keep their US bank accounts, so we had to create a plan to deal with all of that .
But, even though the plan came with a $ 170,000 price chase, we are going to save him millions of dollars in taxes every year. You may not need to spend deoxyadenosine monophosphate much to save on your taxes, but there is an ROI to investing in your international tax and legal structure .
And that ’ s the point : if you want to do business in the US or offshore in general, there is no hack where you can pay $ 500 and it is abruptly made unusually easily .
tax is unmanageable and the people who I see having the biggest problems are the ones that do commercial enterprise in the US, break all the US tax rules and then say, “ Oh, well I have been doing it for a class and I have not heard from the IRS so far. ”
Yes, the IRS sometimes takes years to catch up with you. But when they do catch up, you ’ ll wish you had paid the high fees to set things up right alternatively of going for the $ 500 blanket solution.
Read more: How Much Money Can You Make with DoorDash?
There are reasons that firms like ours and the Big Four and everybody else charge gamey fees : there is an ROI for people who need it .
The US is a landmine and US companies like Stripe Atlas are ignoring this and pitching the ambition of US bank and remote control company formation so that you can sit on your butt and pay a low price .
well, here is my sales talk : get off your butt and pay a few bucks to commit yourself to the procedure. No doubt the aplomb kids will not like that message and they will keep on engaging in foolhardy demeanor. People who are running actual businesses with real tax income will appreciate this advice for what it is .